U Network Review – Better Than Steemit? | Low Cap Chinese Project | Qtum, Aelf, Po.et

** U Network is a Decentralized Protocol for Publishing and Valuing Online Content **

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The Problem: Online Content is Broken.

– UNFAIR: Platforms don’t distribute value fairly to users and creators
– POOR DISCOVERY: Content discovery algorithms are harmed by spammers and paid bots.
– CENTRALIZED GOVERNANCE: Users don’t have a voice in content moderation or in platform policy decisions.

Solution: U Network provides a solution to the fairness content discovery, and governance problems.

U Network considered the impact of outside capitals before releasing tokens into the market. Steemit designed its token Steem Dollars to be pegged to 1 USD. However, it failed to work as its current value is over 1 USD. The reason behind it is very simple: when the value is below 1 USD, there’s incentive for people to buy it and eventually move the value up. Circling back to product itself, if the token value fluctuates too much then the author’s profits would too. That is the reason U Network’s initial algorithm remains simple such that the UUU value would not be affected by market value too much.

Essentially, U Network provides a solution to turn content valuation into an economic problem. As we know content’s value can be very subjective. Consequently, if no cost is involved in voting, users would randomly or blindly cast votes. When voting takes initial investment, it would transit slowly into an economic as opposed to financial model. The interesting part of the algorithm is that the first 35% voters would definitely make profits. As a result, if you estimate the value of a certain piece to be at 100 dollars and approximately 300 users would vote in favor of it, then as long as you vote among the first 100, you would make a profit. This economic principal promotes rational judgement and market prediction.

In terms of author’s power, U Network would also rank voters based on their authority in their respective professions or industries. For example, if someone has a good track record as content generator in a certain topic, he would be ranked higher than average in that particular topic. However, in terms of token distribution U Network wouldn’t rank different users.

Sources:
– https://u.network
– https://www.youtube.com/watch?v=NKp5xFSbdz8 (Ray’s review)
– https://medium.com/@juliaguuuu/u-network-the-next-steemit-c57d587deb81
– https://u.network/U_whitepaper_en.pdf

U Network Review – Better Than Steemit? | Low Cap Chinese Project | Qtum, Aelf, Po.et

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Kane Dane